Canadian Tire doubles its rewards programs while Canada Goose loses popularity in Asia. Here are this week’s winners and losers | money matters


Canadian Tire Corporation (-7.8%)

In a bear market, “winners” are few, but one of them is Canada’s iconic retailer. The company increased its dividend by 25% as it posted growth in profits and revenue in the first quarter compared to a year ago. Same-store sales increased 4.5%, led by the automotive, hockey and winter categories. In its first-quarter results, Canadian Tire also said it was doubling down on its rewards programs to gather consumer data and shape sales through promotions.

Fire & Flower Holdings Corp. (+10.69%)

As the cannabis industry faces impending consolidation, Toronto-based Fire & Flower has made big money by expanding its retail arm and buying out competitors. Late last month, the company reported an increase in revenue for fiscal 2021 to $175.5 million, a 37% increase from $128.1 million in 2020. On Thursday, the company also announced Firebird Delivery, a project to offer same-day cannabis delivery to customers across Ontario.

Ensign Energy Services (+15.56%)

Gas is king these days. Ensign, one of Calgary’s largest oilfield service providers, reported revenue growth of more than 50% in its latest quarter as energy demand soars while supply shrinks. The company says its revenue totaled $332.7 million, compared to $218.5 million in the same quarter last year.

Canada Goose (-3.95%)

It used to be impossible to walk down King Street without seeing someone in a Goose. But the parka company’s outerwear is out of style, and it turns out that other retailers are capable of designing warm jackets as well. In the fourth quarter, the Toronto-based company posted a revenue loss of $9.1 million as store closures in Asia affected sales in those markets. That said, the company has seen an increase in revenue from North American stores over the past year.

Canadian National Railway Company (-0.36%)

Some big names are reducing their exposure to CN Rail. Last week, Bill Gates sold $940 million worth of stock, slashing one of the largest holdings in the investment firm that manages his $117 billion personal fortune. That company, Cascade Investment, sold about 12% of its shares in the Montreal company this month and has been slowly reducing its ownership of the railroad since at least May 2021.

Shopify Inc. (-12.6%)

Shopify’s woes continued last week as tech stocks continued to slide amid fears of rising inflation and interest rates. The company’s stock price jumped more than 10% on Thursday, with some investors holding out hope in e-commerce businesses while brick-and-mortar retailers like Walmart posted poor quarterly results. But by Friday the company had wiped out all those gains as fears of the R-word (rhymes with procession) intensified.

Corrigendum — May 24, 2022: A previous version of this article incorrectly stated that Canadian Tire’s stock price rose 6.4% between May 16 and May 20. In fact, the stock price was down 7.8%.


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